Energy Recovery (NASDAQ:ERII) Stock Price Down 6%

Energy Recovery, Inc. (NASDAQ:ERII - Get Free Report) traded down 6% on Thursday . The company traded as low as $14.86 and last traded at $14.88. 150,543 shares were traded during trading, a decline of 65% from the average session volume of 426,658 shares. The stock had previously closed at $15.83.

Analyst Upgrades and Downgrades

ERII has been the topic of several research analyst reports. Raymond James upgraded shares of Energy Recovery from an "outperform" rating to a "strong-buy" rating and set a $21.00 price objective on the stock in a report on Tuesday, July 9th. StockNews.com raised shares of Energy Recovery from a "sell" rating to a "hold" rating in a research note on Thursday, August 1st.

Energy Recovery Price Performance

The firm has a market capitalization of $847.91 million, a price-to-earnings ratio of 43.50 and a beta of 1.23. The stock has a 50 day moving average price of $15.44 and a two-hundred day moving average price of $14.67.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, CEO David W. Moon purchased 3,000 shares of Energy Recovery stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $16.00 per share, with a total value of $48,000.00. Following the completion of the transaction, the chief executive officer now owns 32,750 shares of the company's stock, valued at $524,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Energy Recovery news, CTO Farshad Ghasripoor sold 4,079 shares of the business's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $59,675.77. Following the completion of the transaction, the chief technology officer now owns 137,487 shares in the company, valued at $2,011,434.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David W. Moon acquired 3,000 shares of Energy Recovery stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief executive officer now owns 32,750 shares of the company's stock, valued at approximately $524,000. The disclosure for this purchase can be found here. Insiders sold a total of 28,444 shares of company stock valued at $387,536 in the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ERII. Hantz Financial Services Inc. purchased a new position in shares of Energy Recovery in the 2nd quarter valued at about $26,000. Sentry Investment Management LLC grew its holdings in Energy Recovery by 23.2% during the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company's stock worth $120,000 after acquiring an additional 1,438 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Energy Recovery in the 1st quarter valued at approximately $158,000. Lazard Asset Management LLC raised its holdings in shares of Energy Recovery by 39.6% in the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company's stock valued at $171,000 after purchasing an additional 3,076 shares in the last quarter. Finally, AXA S.A. purchased a new stake in shares of Energy Recovery during the 2nd quarter worth $149,000. 83.58% of the stock is owned by institutional investors and hedge funds.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.

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